Korean Air-Asiana merger to spur M&A among budget carriers

Korean Air Lines Co.’s prospective acquisition of Asiana Airlines Inc. is expected to spur domestic budget carriers to seek combinations as the merger of the two domestic aviation industry leaders is predicted to create the country’s largest low-cost carrier (LCC).

Korean Air, the country’s top full-service carrier, said on Thursday it has secured final approval from the European Commission, the region’s antitrust body, for…